Empirical Finance LLC Has $771,000 Holdings in Raymond James (NYSE:RJF)

Empirical Finance LLC boosted its holdings in shares of Raymond James (NYSE:RJF) by 2.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,293 shares of the financial services provider’s stock after buying an additional 141 shares during the quarter. Empirical Finance LLC’s holdings in Raymond James were worth $771,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of RJF. Metis Global Partners LLC increased its holdings in shares of Raymond James by 1.4% during the 3rd quarter. Metis Global Partners LLC now owns 6,115 shares of the financial services provider’s stock valued at $749,000 after acquiring an additional 82 shares during the last quarter. Wedmont Private Capital raised its position in shares of Raymond James by 5.1% in the third quarter. Wedmont Private Capital now owns 1,769 shares of the financial services provider’s stock valued at $222,000 after purchasing an additional 86 shares during the period. Portside Wealth Group LLC lifted its stake in shares of Raymond James by 3.9% in the third quarter. Portside Wealth Group LLC now owns 2,495 shares of the financial services provider’s stock worth $306,000 after buying an additional 93 shares during the last quarter. Gilliland Jeter Wealth Management LLC boosted its holdings in shares of Raymond James by 1.6% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 6,237 shares of the financial services provider’s stock worth $771,000 after buying an additional 96 shares during the period. Finally, Covestor Ltd grew its stake in Raymond James by 77.0% in the 1st quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock valued at $31,000 after buying an additional 104 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors.

Raymond James Price Performance

NYSE:RJF opened at $160.68 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02. The company has a 50-day moving average of $135.23 and a 200-day moving average of $124.52. Raymond James has a 52 week low of $102.42 and a 52 week high of $163.45. The company has a market capitalization of $33.09 billion, a price-to-earnings ratio of 16.55, a PEG ratio of 0.81 and a beta of 0.99.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $0.54. The firm had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.32 billion. Raymond James had a net margin of 13.86% and a return on equity of 19.61%. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.13 earnings per share. As a group, equities research analysts anticipate that Raymond James will post 10.83 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend was Tuesday, October 1st. Raymond James’s dividend payout ratio is 18.54%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Morgan Stanley upped their price target on shares of Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. JMP Securities increased their target price on Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a research note on Thursday, October 24th. Jefferies Financial Group lifted their price target on Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. TD Cowen upped their price target on Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group raised their price objective on shares of Raymond James from $125.00 to $142.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Raymond James has a consensus rating of “Hold” and an average price target of $140.91.

Raymond James Company Profile

Raymond James Financial, Inc, a financial holding company, through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products in the United States, Canada, Europe, and internationally. The company operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other segments.